sebi:Order/SV/RM/2023-24/29966
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Facts / Headnote
Penalty of Rs. 2,00,000 imposed on the Noticee under Section 15HB of the SEBI Act, 1992
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 11
- Reg. 4(1)
- Reg. 7(2)
- Reg. 7(2)(a)
- Reg. 9(1)
- Reg. 9(3)
- Reg. 2(1)(c)
- Reg. 15H
Parties
- Pradeep K Srivastava
Holding
The Noticee, as Compliance Officer, violated Regulation 9(3) read with Regulation 2(1)(c) of the PIT Regulations and is liable for monetary penalty under Section 15HB of the SEBI Act, 1992. A penalty of Rs. 2,00,000 was imposed on Mr. Pradeep K Srivastava.
Full text
Adjudication Order against Pradeep K Srivastava in the matter of Kwality Limited Page 2 of 23 for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter referred to as ‘SEBI Adjudication Rules, 1995’) read with Section 19 of the SEBI Act, 1992, to inquire into and adjudge under the provisions of the Section 15HB of the SEBI Act, 1992 for the violations alleged to have been committed by the Noticee.
Adjudication Order against Pradeep K Srivastava in the matter of Kwality Limited Page 3 of 23 (PIT) Regulations, 2015. However, no adverse inference was drawn with respect to price/ volume manipulation by BSE.
Adjudication Order against Pradeep K Srivastava in the matter of Kwality Limited Page 4 of 23 disposal of shares, thus, he has not complied with Regulation 7(2)(a) of the PIT Regulations. d. Mr. Lokesh Kumar Varshneya, a designated person of the Company, has executed contra trades within 6 months and profit of Rs. 14,063.75 has not been remitted to the SEBI for credit to the IPEF, thus, he has not complied with Clause 10 of Schedule B read with Regulation 9(1) of the PIT Regulations. Further, Mr. Varshneya has traded during trading window closure period, thus, he has not complied with Clause 4 of Schedule B read with Regulation 9(1) of the PIT Regulations. e. Mr. Satish Kumar Gupta, a designated person of the Company, has executed contra trades within 6 months and traded during trading window closure period, thus, he has not complied with Clause 4 and 10 of Schedule B read with Regulation 9(1) of the PIT Regulations. f. Mr. Inderjit Singh, a designated person of the Company, has executed contra trades within 6 months and traded during trading window closure period, thus, he has not complied with Clause 4 and 10 of Schedule B read with Regulation 9(1) of the PIT Regulations. g. Mr. Ashutosh Kapil, a designated person of the Company, has executed contra trades within 6 months, thus, he has not complied with Clause 10 of Schedule B read with Regulation 9(1) of the PIT Regulations. h. Mr. Sudesh Kumar, a designated person of the Company, has executed contra trades within 6 months
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Source: SecMarx — sebi:Order/SV/RM/2023-24/29966. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.